Who Is Shayne Coplan? FBI Seizes PolyMarket CEO's Phone and Computer after Betting Platform Correctly Predicted Trump's Win

The FBI has seized the phone and electronic devices of Polymarket's CEO after the election-betting platform accurately predicted Donald Trump's victory. Shayne Coplan, 26, was reportedly confronted at his Soho home in an early-morning raid on Wednesday, according to sources speaking to the New York Post.

Law enforcement woke the 26-year-old entrepreneur in his Soho apartment at 6 a.m., demanding him to hand over his phone and other electronic devices, a source told The New York Post. Coplan was not given an explanation for the raid. However, the source believes it was politically motivated, as Polymarket had correctly forecast a decisive Trump victory over Kamala Harris, contrary to traditional polls.

Raided for Making Correct Predictions

One insider slammed the seizure, calling it "a prime example of political theater at its worst."

"They could have asked his lawyer for any of these things. Instead, they staged a so-called raid so they can leak it to the media and use it for obvious political reasons," the source said.

Polymarket had indicated for weeks that Trump would emerge victorious, and the once-low-profile platform proved accurate, despite skepticism from many experts.

After the results were announced, Coplan posted on X, saying, " Make no mistake, Polymarket single-handedly called the election before anything else. The global truth machine is here, powered by the people."

In a statement to the New York Post, Polymarket described itself as a "fully transparent prediction market."

"We charge no fees, take no trading positions, and allow observers from around the world to analyze all market data as a public good."

Until now, Coplan had kept a low profile. However, after his site, which allows users to bet on outcomes, accurately predicted the November 5 U.S. election results, he was praised by figures like Elon Musk and American statistician Nate Silver.

Silver, one of the many experts who had forecasted a tight race, was so impressed by Polymarket's accuracy that he joined the company as an advisor. Despite this recognition, some critics have questioned the site's reliability and whether it truly reflects the views of the broader American public.

From No One to a Star

Polymarket started small, with Coplan sharing a photo of his "office" four years ago, which was actually just his bathroom. While Coplan has kept his personal political views private, he was recently seen having breakfast with Florida Governor Ron DeSantis.

Coplan said the company's profile grew after it correctly predicted Joe Biden's exit from the race, though he maintains that the site remains strictly non-partisan.

"We're just market nerds who think prediction markets provide the public with a much needed alternative data source," Coplan previously said. "Polymarket is not about politics."

Polymarket, Kalshi, and other betting platforms have fast emerged as popular options for betting on elections and predicting outcomes, especially after several election cycles where pollster predictions proved to be inaccurate.

One financier reportedly earned around $85 million betting on the election via Polymarket. The anonymous bettor, a French national, held 11 accounts on the platform , according to the Wall Street Journal. U.S. citizens are not allowed to participate in trading on the site.

Users place "trades" on a candidate and receive a payout if they choose the correct outcome.